Value of information to informed traders equals price-order flow covariance and totals 0.04% of market cap, much less than active management fees.
and Lowery, Richard, year = 2012
2 Pith papers cite this work. Polarity classification is still indexing.
2
Pith papers citing it
years
2026 2verdicts
UNVERDICTED 2representative citing papers
Structured finance AAA ratings required discrimination power of thousands to one, far beyond what pre-crisis information could provide according to Bayes' theorem.
citing papers explorer
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The Value of Information: A Puzzle
Value of information to informed traders equals price-order flow covariance and totals 0.04% of market cap, much less than active management fees.
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When AAA Satisfies Nothing: Impossibility Theorems for Structured Credit Ratings
Structured finance AAA ratings required discrimination power of thousands to one, far beyond what pre-crisis information could provide according to Bayes' theorem.